⁍ America’s largest mall operator Simon Property Group Inc reported an about 24% fall in quarterly revenue.
⁍ Several retailers suffered from store closures due to the COVID-19 pandemic.
⁍ Net income attributable to the company’s shareholders fell to $254.2 million, or 83 cents per share, from $495.3 million, or $1.60 per share, a year earlier.
– Simon Property Group Inc., America’s largest mall operator, on Monday reported a 24% fall in quarterly revenue, hurt by unpaid rent dues as several retailers suffered from store closures due to the COVID-19 pandemic. Total revenue for the second quarter ended June 30 stood at $1.06 billion, per Reuters. Net income attributable to the company’s shareholders fell to $254.2 million, or 83 cents per share, from $495.3 million, or $1.60 per share, a year earlier.
Source: https://www.reuters.com/article/us-simon-prop-grp-results/mall-owner-simon-property-revenue-disappoints-as-pandemic-cuts-shopping-days-idUSKCN2562LC